Four Banks Fail In Georgia, Florida and Arizona

July 15 – Regulators closed four banks today in Georgia, Florida and Arizona, bringing the total number of bank failures this year to 55.

The total assets of the four failed banks amounted to $679 million and the cost to the FDIC Deposit Insurance Fund was estimated at $129.1 million.

The four failed banks this week are listed below. Please click on the link for detailed information on each bank closing.

One Georgia Bank, GA – This failed bank was taken over by Ameris Bank which still owes money to the US Treasury under the TARP program. Georgia now accounts for almost 30% of all banking failures. One Georgia Bank had $186.3 million in assets.

High Trust Bank, GA – This failed bank was also acquired by Ameris Bank. High Trust had $192.5 million in assets.

First Peoples Bank, FL – Acquired by Premier American Bank which was established specifically to acquire failed banks.

Summit Bank, AZ – The smallest bank failure of the week with $72 million in asssets.